NU E Power Corp. Announces Leadership Transition, Board Changes and Closing of the Acquisition of 500 MW of Power Assets from ACT Mid Market Ltd. Surpasses 1 GW Milestone with Global Hybrid Portfolio

Executive Summary

• NU E Power Corp. closed the acquisition of ~500 MW of hybrid power development assets from ACT Mid Market Ltd., bringing total secured capacity to >1 GW.
• The transaction was funded with 11 M common shares at $0.15 per share, 10 M warrants exercisable at $0.25 (vested in three tranches), and a contingent $300k cash payment tied to future financing.
• Significant leadership changes were announced: Broderick Gunning appointed President & CEO, Frederick Stearman as CTO, Bold Batsukh as Director‑Asia; Samuel Kyler Hardy resigned from the board.

Key Details

• Acquisition Scope: ~500 MW of high‑value hybrid power assets across North America, Asia, South America, and Africa, including the Dakhan Hybrid Energy & Data Complex (200‑acre site in Mongolia with solar, natural gas, grid interconnection, battery storage, on‑site data centre).
• Consideration:
• 11,000,000 common shares issued to ACT at a deemed price of $0.15 per share (subject to escrow release over 36 months).
• 10,000,000 common share purchase warrants, exercisable at $0.25, vesting in three equal tranches on Mar 21 2026, Nov 21 2026, and Nov 21 2027.
• Conditional cash payment of $300,000 payable upon completion of financing ≥ $1,500,000 by Feb 28 2026 (or paid in shares at the 20‑day VWAP if financing does not occur).
• Ownership Impact: Post‑closing, Broderick Gunning will control 11 M shares and 10 M warrants, representing ~14.0% of voting securities on a non‑diluted basis (up to ~23.7% if all warrants are exercised).
• Board/Appointments:
• Broderick Gunning – President, CEO & Director (formerly Managing Partner, ACT Mid Market).
• Frederick Stearman – Chief Technology Officer.
• Bold Batsukh – Director – Asia.
• Devon Sandford – Remains on board, overseeing US operations and construction.
• Samuel Kyler Hardy – Resigned from the Board.
• Regulatory Approvals: Canadian Securities Exchange approved both the Asset Purchase Agreement and the acquisition.
• Early Warning Disclosure: Gunning’s indirect acquisition of NU E shares triggers NI 62‑103 early‑warning reporting; ownership percentages disclosed above.
• Future Targets: Company aims to reach 2 GW of secured hybrid capacity by 2027.

Notable Quotes

“Today marks a defining moment for NU E. We have not only achieved but exceeded our 1 GW milestone ahead of schedule – we now control over 1 GW of hybrid, permitted capacity in the world’s most strategic energy corridors… This is just the beginning as we accelerate toward our next target of 2 GW by 2027.” – Broderick Gunning, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.